Forsta AP Fonden Decreases Stake in EPAM Systems, Inc. (NYSE:EPAM)

Forsta AP Fonden lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,800 shares of the information technology services provider’s stock after selling 1,100 shares during the period. Forsta AP Fonden’s holdings in EPAM Systems were worth $2,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPAM. Principal Securities Inc. bought a new position in EPAM Systems during the fourth quarter valued at about $43,000. Dimensional Fund Advisors LP raised its stake in EPAM Systems by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 249,569 shares of the information technology services provider’s stock valued at $74,210,000 after acquiring an additional 35,568 shares during the period. Principal Financial Group Inc. lifted its holdings in EPAM Systems by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 74,253 shares of the information technology services provider’s stock valued at $22,078,000 after purchasing an additional 388 shares during the last quarter. Panagora Asset Management Inc. bought a new position in EPAM Systems during the fourth quarter worth about $658,000. Finally, Brown Advisory Inc. lifted its stake in shares of EPAM Systems by 290.3% during the 4th quarter. Brown Advisory Inc. now owns 3,275 shares of the information technology services provider’s stock valued at $974,000 after buying an additional 2,436 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $205.46 on Tuesday. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 4.48 and a beta of 1.45. The stock has a fifty day moving average of $201.88 and a 200 day moving average of $220.28. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. As a group, research analysts expect that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Susquehanna lowered their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $258.32.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.